Needham analyst Chad Messer assigned a Buy rating to Cormedix (CRMD) today and set a price target of $31.00. The company’s shares closed last Monday at $9.00.
According to TipRanks.com, Messer is a 4-star analyst with an average return of 9.5% and a 48.7% success rate. Messer covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Sarepta Therapeutics, and Autolus Therapeutics.
Cormedix has an analyst consensus of Strong Buy, with a price target consensus of $29.50, representing a 257.6% upside. In a report issued on February 19, JMP Securities also maintained a Buy rating on the stock with a $27.00 price target.
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Cormedix’s market cap is currently $482M and has a P/E ratio of -20.00. The company has a Price to Book ratio of 13.98.
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CorMedix, Inc. operates as a pharmaceutical and medical device company, which seeks to in-license, develop and commercialize prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The firm is developing its product Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous catheters. The company was founded by Antony E. Pfaffle in 2006 and is headquartered in Berkeley Heights, NJ.
